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Tesla Motors has announced that it will be using the $40 million of in convertible debt financing it just recieved to “accelerate production” of its current roadster model. It has shipped 50 so far, but still has a back log of 1,200 orders.

Tesla Motors still plans to build their headquarters and a plant in San Jose to build their Type S sedan. The release of the at sedan has been delayed six months. This pushes the release out to 2011.

The Type S is being billed as luxury sedan. For $60,000, it better be really nice.

The Chevy Volt is still scheduled for a 2010 release with a more modest $30,000 price tag.

Even with gas prices dropping, I still see a market for electric and plug in hybrid cars. The memory of $4 a galleon gas will still be there and there is the “cool” factor.